Lukewarm Manufacturing Reports from Europe, Asia

WSJ's Vincent Cignarella looks at manufacturing levels in Europe and Asia. While the output levels have been better than expected, they still do not indicate a recovery trend. Photo: Reuters

This transcript has been automatically generated and may not be 100% accurate.

Gruner ... even though ... a relatively strong ... manufacturing numbers out today and in the sun so jobless claims number the market down to round on that ... out in Asia ... we've ... we've seen some pretty negative numbers ... the the the ... Sokol was seen as Seagate's ... better there ... various countries looking really really cool which is giving a feeling negative outlook for the global economy ... and to talk with that idea what to bring in this a Cinderella Tuesday ... one of ... al ... columnist's of DJ FX Trader ... says Vincent ... it says is that if we just about what seem like some ... mildly positive data today ... the US ... of course comes against the backdrop of a lot of native news in the US ... we've actually seen ... some daily ... but is builds muscle bombing but worrying signals in the agenda but a junior debt threat ... of what ... I think primarily China has been on a previously looking at the Korea ... Hong Kong the only signs of Asia that are still showing ... going born under this isn't as of the many factors in the two thousand and is in its manufacture just about every other major center of the shirt is going the wrong way which is below if the blood fifteen of the getting is a negative signal that is actually of the market still has about ... twenty percent ... chance of the RBA cutting rates at their next meeting is because the spread of ... Turner's numbers are showing up is ... that of a dichotomy in the economy with the mining sector in the industry from cautious to any matter of months ago was seen to be Suharto they wanna go I did this really just a mom by surprise was just out of nowhere ... and it's up ... I just think the world is catching up to it so it's going to pay the Piper ... is that the U S driving this problem is that is who is in the classic de coupling story that we've we've ... on and off again be led to believe in that that the emerging markets can go to run ... for it or is this in fact a ... topping the sense that the public scene here of the last month the sudden ... drop in confidence and so forth ... a slowdown in second-quarter GDP ... has actually been treated favorably to pick up on but I'd I think they have their own problems I think we've we've been in this place for some time in the look of the ISN numbers today ... there was positive and was positive for the twenty fifth consecutive month ... yet I don't think you can ... tell anyone that ... as you fill positive in the last twenty five was it just doesn't seem to jive with ... with with how things are really going on the road and it's it's it's it's really been mixed in the last month that I think tomorrow's of employment numbers also wills will set another tall ... I imagine the Fed is watching every single number of other ... the Jefferies's to the key question is what the reasons why the stock market is held up relatively well that site ... in the last week despite this the big concerns of cost him twenty euro ... touched on ... the previous night ... I'm ... its is that this is so that ... we would expect a suitably speculation that the Fed ... Michael SM's a rabbit out of ... next week when it meets the eye ... and give us get another round of quantitative easing the stimulus ... maybe I how likely is that there ... can ... be you what ... impact will come from that the would go down that ... by ... the political will to QE three is a possibility in pricing throughout the council was not one of ... but I think he'll do something ... before slowing economy ... mostly what ... I think they're gonna give the markets is so what Greenspan called irrational exuberance ... that the Fed is always going to be there whenever things get the top of that is moral hazard problem that is put my itinerant on this but you know for Nanking ... that email ahead as ... we talked about many times in the many people realize it really is a fiscal ... unfortunately we know what you're away from a ... major election ... and it's impossible to believe that one politicians don't give up his political Korea for the betterment of the country ... particularly in ... the present United States is in a position ... um ... and it's it's very unlikely that the real answer so the question which is a fiscal wanted to be resolved next month ... so so what is it with someone but it was so great to come to this new strategies one can apply to Qantas ... sees perhaps ... bonds ... in this environment I think you do stick with us Treasuries despite the yield um ... it's not a matter of ... the ... rate of return on their assets would return in Europe where the question of how solid it uses a credit right ... now I will I get the UIC which I think the boys going ... double is due to avoid care of ... like I think he does really know until ... the wheel upward growth in the US ... is Eurozone inflation ... was still a safe place to be in a relatively small return but a safe bet ... I think you in Europe is always a place to hide from right yet and I say hi ... I've always liked ... I think this do they still have good positive numbers but that's compared everyone ...